Asian Development Bank & IIFL Home Finance Ltd. (IIFL HFL) promote green affordable housing in Andhra Pradesh and Telangana through ‘Kutumb’ to spread awareness about building climate resilient housing that also saves cost and energy.
With over 85 branches in the sates of Andhra Pradesh and Telangana, IIFL HFL has disbursed a total loan of over Rs 2,448 cr in the state of Andhra Pradesh and Telangana, till March 31, 2022 (Over Rs 1,491 cr in Telangana and over Rs 956 cr in Andhra Pradesh).
With its mission, in line with government’s mission of ‘Housing for All’ in all parts of Andhra Pradesh and Telangana, IIFL HFL intends to expand itself in tier 3 and 4 markets. The aim is to target over Rs 7,200 cr home loan disbursements by 2025 in Andhra Pradesh and Telangana (Over Rs 4,320 in Andhra Pradesh and Rs 2,880 in Telangana).
The company has funded over 645 Beneficiary-led Construction (BLC) units with over Rs 12 cr loan disbursement in Andhra Pradesh. BLC is a Centrally Sponsored Scheme, to provide assistance of upto Rs 1.5 lakh per house to individual eligible families belonging to EWS categories to either construct new house or to enhance existing houses on their own.
Monu Ratra, ED and CEO, IIFL HFL said, “We at IIFL Home Loan believe that we owe to affordable housing customers more, beyond just financial assistance, which is to provide them habitation which is sustainable and ecologically healthier. In continuation of same endeavour we have ‘Kutumb’, a knowledge ecosystem which shall spark a sustainable housing revolution”
